“[T]he prices that we’re paying at the pump today are, I think, going to be ‘the good old days,’ because others who watch this very closely forecast that we’re going to be hitting $12 and $15 per gallon,” [Robert] Hirsch said. “And then, after that, when oil – world oil production goes into decline, we’re going to talk about rationing. In other words, not only are we going to be paying high prices and have considerable economic problems, but in addition to that, we’re not going to be able to get the fuel when we want it.”
Hirsch told the Business & Media Institute the $12-$15 a gallon wasn’t his prediction, but that he was citing Charles T. Maxwell, described as the “Dean of Oil Analysts” and the senior energy analyst at Weeden & Co. Still, Hirsch admitted the high price was inevitable in his view. “I don’t attempt to predict oil prices because it’s been impossible in the past,” Hirsch said in an e-mail. “We’re into a new era now, and over the next roughly five years the trend will be up significantly. However, there may be dips and bumps that no one can forecast; I wouldn’t be at all surprised. To me the multi-year upswing is inevitable.”
Read the article from
Business and Media Institute í here
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Rationing?
What’s going on here?
Boy, I remember those old days of long gas lines .
Something is really out of whack in the world.
Famine?
Disease?
Disaster?
Energy Crisis?
Global Warming/Cooling
Endangered Polar Bears?
What Century are we living in anyway?
Aren’t we trying to land on the moon again?
Something is really out of whack in the world.
I thought we had made progress after all of these years....
